Business Current Accounts

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Compare Business Current Accounts

	Account	AER	Overdraft Facility	Free Transactions	Fee	Features
	Barclays Business Start Ups Account	0%			Free*	Free business banking for up to 24 months. Free automated transactions when free business banking period ends. Free day-to-day support from Barclays Business Team by phone 24/7.	MORE INFO
	*Free business banking for up to 24 months
	NatWest Business Startups Account	0%			Free*	Two years' free Business Banking saving you £480 £500 fee-free overdraft in the first year (Subject to status. Over 18s only.) Mentor Aware - help to manage your risks with employment Law and Health & Safety support tool worth £360 No annual fee on your credit card for the first 12 months - saving you £32 per card.	MORE INFO Call Direct 0333 355 9429
	*Two years' free Business Banking saving you £480 - £6 monthly thereafter
	Lloyds TSB Commercial Current Account	0%			Free*	18 months free day-to-day banking. Support from a named relationship manager. No limit on deposits or withdrawals and no minimum account balance required.	MORE INFO
	*18 months free day-to-day banking - £5 monthly thereafter
	Santander Business Start-Up Current Account	0.25%			Free	12 months free banking or 18 months free with the Santander Business Start-up Extra if you have a personal Santander Bank Account. Non- standard account transactions such as CHAPs and Change Giving may be charged.	MORE INFO
	12 months free banking or 18 months free with the Santander Business Start-Up Extra
	RBS Business Startups Account	0%			Free*	Two years' free Business Banking saving you an average of £336 over 2 years £500 fee-free overdraft in the first year (Subject to status. Over 18s only.) Mentor Aware - help to manage your risks with employment Law and Health & Safety support tool worth £360 No annual fee on your credit card for the first 12 months - saving you £32 per card.	MORE INFO Call Direct 0333 355 8171
	*Two years' free Business Banking saving you an average of £336 over 2 years - £5 monthly thereafter
	Barclays Business Switcher Current Account	0%			Free*	Free business banking for up to 24 months. Overdraft facility up to £25k (T&C's apply) Free day-to-day support from Barclays Business Team by phone 24/7.	MORE INFO
	*Free business banking for up to 24 months - £5.50 monthly thereafter
	Lloyds TSB Commercial Current Account Switcher	0%			Free*	Smooth move or £50 money back guarantee. Six months free day-to-day banking. No limit on deposits or withdrawals and no minimum account balance required.	MORE INFO
	*Six months free day-to-day banking - £5 monthly thereafter
	Santander Business Tariff Accounts	0%			£7.50+	Tariff (Monthly cash deposit limits) £7.50 - £1,000 then £0.50 per £100 £12.50 - £3,000 then £0.50 per £100 £20.00 - £5,000 then £0.50 per £100	MORE INFO
	Access to a Local Business Manager offering expert advice
	Cashplus SME Business Account	0%			£29.99 per year	Low cost - only £29.99 per year Free to send and receive bank transfers Free to pay in cash Fees do not change after 2 years	MORE INFO
	No credit checks or interview required - instant online application

Easy Access Business Savings Accounts

	Account	Interest (AER) The account’s Annual Equivalent Rate: shows the interest you will earn over a year as a percentage. If interest is paid monthly, this rate will be higher than the gross interest rate (as the interest will be compounded).	Interest Paid This shows how often the interest is calculated and paid.	Account Type / Term Type of savings account and length of account term (if applicable).	Account Access Online - Access via internet banking. Telephone - Access via telephone banking. Branch - Access via your local branch. Post - Postal access.	Min / Max Balance Some accounts have minimum and maximum balances. If the account holder’s balance falls outside these limits they may be subject to interest penalties or account closure.
	Bank of Cyprus UK Business 95 Day Notice Account	2.02% AER dependent on balance: £1k+ = 1.76% £95k+ = 2.02%	Monthly	95 Day Notice Account	OnlineTelephoneBranchPost	£1,000 - £5,000,000	MORE INFO Read this before you proceed. To qualify for this product you need to meet the following criteria. Minimum Deposit £1,000 Permanent UK Resident Yes
	Manchester Building Society Business Tracker (Issue 2)	1.60% AER tracks at 1.10% above the Bank of England Base Rate until 30th June 2014.	Yearly	45 Day Notice Account	OnlineTelephoneBranchPost	£10,000 - £75,000	MORE INFO
	Aldermore Easy Access Business Savings Account	1.50%	Monthly / Yearly	Easy Access	OnlineTelephoneBranchPost	£1,000 - £1,000,000	MORE INFO Read this before you proceed. To qualify for this product you need to meet the following criteria. Minimum Deposit £1,000 Permanent UK Resident Yes Minimum Age 18 Existing Customer No

Accounts with an asterisk next to the AER interest have a bonus applied to the interest rate, place your mouse cursor over the asterisk to view the bonus.

Fixed Term Business Savings Accounts

	Account	Interest (AER) The account’s Annual Equivalent Rate: shows the interest you will earn over a year as a percentage. If interest is paid monthly, this rate will be higher than the gross interest rate (as the interest will be compounded).	Interest Paid This shows how often the interest is calculated and paid.	Account Type / Term Type of savings account and length of account term (if applicable).	Account Access Online - Access via internet banking. Telephone - Access via telephone banking. Branch - Access via your local branch. Post - Postal access.	Min / Max Balance Some accounts have minimum and maximum balances. If the account holder’s balance falls outside these limits they may be subject to interest penalties or account closure.
	Aldermore 1 Year Fixed Rate Business Savings Account	2.00%	Monthly / On Maturity	Fixed Rate / 1 Year	OnlineTelephoneBranchPost	£1,000 - £1,000,000	MORE INFO Read this before you proceed. To qualify for this product you need to meet the following criteria. Permanent UK Resident Yes Minimum Age 18
	Bank of Cyprus UK Business FlexiBond	1.95%	On Maturity	Fixed Term / 1 Year	OnlineTelephoneBranchPost	£10,000 - £1,000,000	MORE INFO Read this before you proceed. To qualify for this product you need to meet the following criteria. Minimum Deposit £10,000
	Aldermore 6 Month Fixed Rate Business Savings Account	1.60%	Monthly / On Maturity	Fixed Term / 6 Months	OnlineTelephoneBranchPost	£1,000 - £1,000,000	MORE INFO Read this before you proceed. To qualify for this product you need to meet the following criteria. Permanent UK Resident Yes Minimum Age 18
	NatWest Business Unbreakable Fixed Rate Deposit	1.25%	On Maturity	Fixed Term / 12 Months	OnlineTelephoneBranchPost	£5,000 - No limit	MORE INFO Read this before you proceed. To qualify for this product you need to meet the following criteria. Minimum Deposit £5,000 Call Direct 0800 084 3786
	NatWest Business 12 Month General Fixed Rate Deposit	1.10%	On Maturity	Fixed Term / 12 Months	OnlineTelephoneBranchPost	£5,000 - No limit	MORE INFO Read this before you proceed. To qualify for this product you need to meet the following criteria. Minimum Deposit £5,000 Call Direct 0800 084 3786
	NatWest Business 6 Month General Fixed Rate Deposit	0.90%	On Maturity	Fixed Term / 6 Months	OnlineTelephoneBranchPost	£5,000 - No limit	MORE INFO Read this before you proceed. To qualify for this product you need to meet the following criteria. Minimum Deposit £5,000 Call Direct 0800 084 3786

Accounts with an asterisk next to the AER interest have a bonus applied to the interest rate, place your mouse cursor over the asterisk to view the bonus.

More about business current accounts

If you run your own business, you could probably benefit from opening a specialist, dedicated current account for your company. Offered through all of the usual banks and building societies such as Barclays, Lloyds, Natwest, Santander and more along with specialist providers, business bank accounts offer debit cards, overdraft facilities, cheque books and automated payments such as direct debits and standing orders, just like a personal account does.

Over and above this, a business bank account usually offers a range of additional benefits. These can include change facilities, the option of a much higher overdraft, access to business guides and training materials, the use of communal meeting rooms and business-class travel facilities, foreign exchange rate discounts, fast international payments and insurance.

Although there is no legal obligation for companies to hold an actual business bank account, it is vital that the business's monetary affairs are kept separate from personal ones. However, if you are a start-up company or you work as a sole trader and do not think you need any of the additional benefits that a business account offers, a separate personal account will suffice.

Anybody that runs a company of any size is usually eligible to apply for a business bank account, though credit rating restrictions will apply. Some banks provide different accounts depending on the size or type of the business.

The most basic business banking accounts are free. For anything more complicated you'll pay either a flat monthly fee, pay-as-you-go by the transaction or a mixture of both.

Click here to find out more about business bank accounts with Know Your Money's guide.

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